Apple stock hits all time high during WWDC as market cap flirts with $1 trillion

Posted:
in AAPL Investors edited June 4
On a day of a software-focused Apple event with no Wall Street pleasing hardware announcements, the company's stock continues to climb, and reaches a new end-of-day high.

Tim Cook at June 4 2018 keynote presentation


Apple's stock Monday closed at a new all-time high of $191.83, besting the previous end-of-day high of $190.04 on May 10. The stock price reached as high as $193.42 during the day. The company's stock price was $172.26 at the start of 2018.

The new high continues several weeks of strong stock performance from Apple, dating back to the company's most recent earnings, which outperformed expectations and quieted whispers about sluggish iPhone sales performance, along with a stock buyback, huge growth in the company's services business, as well as news that Warren Buffett had significantly upped his Apple stake.

The new high Monday seemed to indicate investor satisfaction with Apple's announcements in its WWDC keynote, although the keynote focused on software for iPhone, iPad, Mac and Apple Watch, and did not include any hardware product launches. Apple stock also suffered a bit from the normal sell-off that historically happens during an Apple event, but the day still ended above the last record.

The major announcements in the keynote included iOS 12, Mac OS10.14 Mojave and watchOS, all of which were released in beta to developers.

Apple is now on track to reach a pair of milestones in the near future: A $200-per-share stock price, and a market cap of $1 trillion.
fastasleep

Comments

  • Reply 1 of 17
    lkrupplkrupp Posts: 6,448member
    Might happen, might not. In either event Apple goes down in history as the best managed corporation in history. Steve Jobs and the Apple way are studied in every business school in the world. From a company founded in a garage in 1976 forward forty years to the most valuable and well run company on the planet. And the people in these forums who constantly whine and complain, denigrate and dismiss, are nothing more than gnats flying around Apple’s asshole trying to get just a whiff of the greatness.
    edited June 4 fastasleepStrangeDaysanton zuykovgilly017mac_dogcharlesgresjony0watto_cobra
  • Reply 2 of 17
    fallenjtfallenjt Posts: 3,920member
    $200 in coming days!
    mac_dogwatto_cobra
  • Reply 3 of 17
    cgWerkscgWerks Posts: 1,737member
    Nothing says "bright future" like Memoji!
  • Reply 4 of 17
    MacProMacPro Posts: 17,735member
    lkrupp said:
    Might happen, might not. In either event Apple goes down in history as the best managed corporation in history. Steve Jobs and the Apple way are studied in every business school in the world. From a company founded in a garage in 1976 forward forty years to the most valuable and well run company on the planet. And the people in these forums who constantly whine and complain, denigrate and dismiss, are nothing more than gnats flying around Apple’s asshole trying to get just a whiff of the greatness.
    Have faith.  :)
    watto_cobra
  • Reply 5 of 17
    macxpressmacxpress Posts: 4,616member
    If Steve were here this would have happened months ago! /s

    On a side note....Yeah this keynote was a snoozefest! /s
    edited June 4 Solilkruppwatto_cobra
  • Reply 6 of 17
    There's no real rush for Apple to hit the $1T mark. It's more important to make those shares outstanding decrease with aggressive buybacks. Wall Street believes Amazon deserves the honor more than Apple, so Amazon will get it. It really doesn't matter to long-term Apple shareholders. Amazon already has price targets of $2000 which will likely yield a PE of 450. Amazon shareholders are both lucky and smart.
    tmay
  • Reply 7 of 17
    SpamSandwichSpamSandwich Posts: 30,116member
    If the Apple Car or the Apple Homebot ever happens, I'd be delighted to see a $300 stock price.
  • Reply 8 of 17
    melgrossmelgross Posts: 31,180member
    If Apple hadn’t recently bought back about 40 million shares as part of their new $100 billion share buyback program, it would be worth about $7 billion more.
    SpamSandwichwatto_cobra
  • Reply 9 of 17
    ronnronn Posts: 300member
    I'm waiting for a selloff some time this week. Probably tomorrow after the "disappointing" keynote today. Wall Street = Spew. Rinse. Repeat. 
    watto_cobra
  • Reply 10 of 17
    SpamSandwichSpamSandwich Posts: 30,116member
    ronn said:
    I'm waiting for a selloff some time this week. Probably tomorrow after the "disappointing" keynote today. Wall Street = Spew. Rinse. Repeat. 
    Possibly, but usually the selloff happens DURING the keynote. That didn't happen, so I credit other market forces at work today.
  • Reply 11 of 17
    cgWerkscgWerks Posts: 1,737member
    MacPro said:
    lkrupp said:
    Might happen, might not. In either event Apple goes down in history as the best managed corporation in history. Steve Jobs and the Apple way are studied in every business school in the world. From a company founded in a garage in 1976 forward forty years to the most valuable and well run company on the planet. And the people in these forums who constantly whine and complain, denigrate and dismiss, are nothing more than gnats flying around Apple’s asshole trying to get just a whiff of the greatness.
    Have faith.  :)
    LOL, no doubt. I think that's what they used to say about Microsoft, IBM, etc. too.
    And, I guess I'd rather be a gnat flying around, than attached back there. :)
  • Reply 12 of 17
    anomeanome Posts: 1,155member
    macxpress said:
    If Steve were here this would have happened months ago! /s

    On a side note....Yeah this keynote was a snoozefest! /s
    No, it's "This never would have happened if Steve were alive!"

    And I certainly slept through it. Seriously, it was on at 3am here, and I'm on holiday, so I didn't wake up to watch it. Plus they didn't announce any hardware, let alone an octo-core i11 Groom Lake MacBook Pro with every legacy port, and an inlaid unicorn horn glowing logo on the back for less than $1000, so I guess they must be failing.
    king editor the gratewatto_cobra
  • Reply 13 of 17
    ronnronn Posts: 300member
    ronn said:
    I'm waiting for a selloff some time this week. Probably tomorrow after the "disappointing" keynote today. Wall Street = Spew. Rinse. Repeat. 
    Possibly, but usually the selloff happens DURING the keynote. That didn't happen, so I credit other market forces at work today.
    Just before (or was it at the very beginning of?) the keynote the stock was up $3.18. AAPL finished up $1.59, exactly half the intraday high.

    Although to be fair, negative talk post-keynote has been muted. The biggest negative — if you want to call it that — is the poking fun at Apple for Walkie Talkie and comparisons to Sprint's PTT/Nextel. So maybe I'm A Donnie Downer and AAPL will continue to rise steadily.
  • Reply 14 of 17
    SpamSandwichSpamSandwich Posts: 30,116member
    ronn said:
    ronn said:
    I'm waiting for a selloff some time this week. Probably tomorrow after the "disappointing" keynote today. Wall Street = Spew. Rinse. Repeat. 
    Possibly, but usually the selloff happens DURING the keynote. That didn't happen, so I credit other market forces at work today.
    Just before (or was it at the very beginning of?) the keynote the stock was up $3.18. AAPL finished up $1.59, exactly half the intraday high.

    Although to be fair, negative talk post-keynote has been muted. The biggest negative — if you want to call it that — is the poking fun at Apple for Walkie Talkie and comparisons to Sprint's PTT/Nextel. So maybe I'm A Donnie Downer and AAPL will continue to rise steadily.
    As I like to say, "stock prices will continue to fluctuate".
  • Reply 15 of 17
    Rayz2016Rayz2016 Posts: 4,343member
    lkrupp said:

    And the people in these forums who constantly whine and complain, denigrate and dismiss, are nothing more than gnats flying around Apple’s asshole trying to get just a whiff of the greatness.
    Pure Shakespeare. 
    ronncgWerksFolio
  • Reply 16 of 17
    FolioFolio Posts: 393member
    Haha. Broad very significant improvements but easy for trolls to whine no singular jaw dropping moment.  A year from now Apple will be in a better place. Not so sure about Facebook. 
    watto_cobra
  • Reply 17 of 17
    mmmpow3rmmmpow3r Posts: 6member
    lkrupp said:
    Might happen, might not. In either event Apple goes down in history as the best managed corporation in history. Steve Jobs and the Apple way are studied in every business school in the world. From a company founded in a garage in 1976 forward forty years to the most valuable and well run company on the planet. And the people in these forums who constantly whine and complain, denigrate and dismiss, are nothing more than gnats flying around Apple’s asshole trying to get just a whiff of the greatness.
    You are correct in terms of business schools and Apple. I'm working on my MBA and this is our written paper assignment for the week: Assignment Read this week’s required article: “What You Don’t Know About Apple”. Carr, A. (2013, April). What you don’t know about Apple. Fast Company, (174), 35-38. Discuss if Apple will continue its path to be the frontrunner in revolutionizing the digital marketplace. Discuss if Apple’s competition has increased their share of the marketplace at Apple’s expense. Discuss if Apple will succeed without Steve Jobs.
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